Retirement Answer Man

Many people love to travel, as a matter of fact, it is at the top of just about everyone’s list of things to do when they retire. Usually, when we think of travel we think of stays in 4 or 5-star resorts and all-inclusive hotels. But what if you could find a deeper meaning to travel? Chris Niemeyer joins me today as we discuss meaningful travel. On this show, Chris and I discuss how you can create more meaningful experiences through travel. When you travel with focus and meaning you can incorporate my favorite acronym -- FOR, family, occupation, and recreation all in one fantastic experience. If you are looking for some insider secrets on how to incorporate meaningful travel into your retirement then listen in to this show to get the scoop. What is voluntourism? Is it possible to have a mission trip and a vacation all in one? Is voluntourism only for Christian missionaries? The answers to these questions and more are on this show! My guest, Chris Niemeyer, specializes in voluntourism. Chris is the founder of Mission Travel, a website that helps people find real travel volunteer opportunities all over the world. Would you like to find out how to incorporate helping others into your next trip? Listen to this conversation to find out some excellent insider tricks to plan how to volunteer to help others on your next vacation. How to plan a multigenerational trip Have you ever thought about traveling with your family? Enjoying travel with grandkids creates an incredible common bond with them that no Christmas toy ever will. Would you like your family to discover and learn about different cultures all while helping others? My guest, Chris Niemeyer, founder of Mission Travel, helps people do just that. As a matter of fact, he has taken his four young children all over the world to learn about and experience different cultures all while assisting those in need. Find out some fantastic ways to plan your next multigenerational travel experience by listening to my interview with Chris. Live like the locals Have you ever wondered what it would be like to live like the locals whenever you travel abroad? Travel expert, Chris Niemeyer, gives me some excellent ideas on how to travel and learn more about local cultures by actually living like them. Chris teaches us how we can expand our comfort zones to go deeper and have a richer travel experience. Chris describes how connections with locals have been the best part of his travels. Listen in to our conversation to understand how traveling like a local can provide you a more authentic experience How can you save money when you travel Are you looking for some money saving ideas for your next vacation? Travel expert, Chris Niemeyer, gives me some insider tips on how to do just that! Listen to the show to find out how traveling during ‘shoulder’ seasons can save you money and give you a richer experience on your next vacation. Find out which websites and apps are helpful to saving money by listening to my chat with Chris. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:58] Register for the free webinar on Monday to hear how I walk through Lori and Bruce’s retirement plan HOT TOPIC SEGMENT [4:08] What do you want in your pretirement and retirement years [5:02] FOR - what does this stand for PRACTICAL PLANNING SEGMENT [7:12] How can we combine family occupation and recreation through travel to create meaningful experience [13:48] How can you travel more like a local [17:58] Experience of missions [20:52] How can you find purposeful travel [22:53] Multigenerational travel [26:02] Chris’s mission podcast THE HAPPY LAB SEGMENT [27:03] Living up to our values TODAY’S SMART SPRINT SEGMENT [28:54] Play a game with someone Resources Mentioned In This Episode Mission Travel Podcast Mission Travel Website Ask Roger a question Work with Roger 3-video Series: 5 Minute Retirement Makeover Roger’s Retirement Learning Center The Retirement Answer Man Facebook Page

This is my third episode of the Retirement Plan Live case study. Over the past few weeks, we have gotten to know Lori as she has shared many details of her finances, lifestyle, and how she and Bruce have begun to prepare for retirement. Today we continue our journey by delving deeper into their finances and learning how they have prepared for the unexpected. Listen to hear how Lori and Bruce have prepared for some major retirement risks and to see if you have considered these risks when planning your own retirement. How much money does the average American retiree live on? The answer may surprise you! Some of you have emailed me with concerns that Lori and Bruce may not be the best examples to use as my case study. Many feel that this couple doesn’t best represent the average American retirees. On this episode I address these concerns, we discuss how much money the average American retiree lives on, and we discuss how to manage retirement risks. You’ll want to listen to this episode since you may be surprised by some of the answers. You also need to listen to find out how to register for the live webinar where I break down the details of Lori and Bruce’s retirement so that you can learn how to do this to plan your own retirement.  Have you planned for the financial surprises that can pop up in retirement? What lessons can we learn from Lori and Bruce? I realize that they may not represent what Your financial situation looks like. But regardless, we Can learn something from them. You can use their situation to consider your needs vs wants. Everyone’s financial profile is unique, and each situation is different, so use this information to help you decide what is best for you. Listen in to hear how Lori handles the little extra financial surprises as well as how they plan for the big surprises. Do you plan for the car breaking down? How about major illness? Listen in to hear about these and other retirement risks that are important for everyone to consider. How well do you track your spending? It is important to track your spending well. You must really pin down your spending numbers to accurately plan your retirement. Since Lori and Bruce have such a low overhead I drill Lori on the details, how they track their budget, how they have their money invested, and whether or not they still have life insurance. Listen in to find out all the small details you need to be keeping track of when planning your retirement budget. What are the three biggest risks to your retirement? Do you need to continue a life insurance policy after the rates go up? Have you thought about this? I ask Lori about their insurance policy and if they are financially prepared for long-term specialized care. These are important things to consider when planning retirement. Listen in to today’s podcast so you can discover the three major risks to your retirement and how to prepare for them.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [1:22] I read a few emails I have received about whether Lori and Bruce are good examples of the average American retirees HOT TOPIC SEGMENT  [5:32] What is the average retirement cost for the average American couple [9:32] Needs vs. wants when it comes to retirement [11:52] Make sure you register for the webinar PRACTICAL PLANNING SEGMENT  [13:39] I ask Lori about the details of how they live on 24k a year [19:53] We discuss inflation and how that may impact their retirement plans [20:45] How Lori invests her money [24:35] We discuss the major risks to Lori and Bruce‘s retirement THE HAPPY LAB SEGMENT [34:02] On being grateful TODAY’S SMART SPRINT SEGMENT [35:10] Write a sentence describing these 3 risks to retirement Resources Mentioned In This Episode Ask Roger a question Work with Roger 3-video Series: 5 Minute Retirement Makeover  Roger’s Retirement Learning Center The Retirement Answer Man Facebook Page Try the online Rubik's Cube simulator! Set up a random scramble then try to figure out the solution!

No matter how much money you may have, worrying about money is part of human nature. We all worry that we may not have enough no matter what our tax bracket is. Even though that is the case, I still say money does not come first when planning retirement. When planning out your financial resources to prepare for retirement, first think about the life you want, then think about the money. This is the second episode in a four-part series where I use Lori and Bruce as a case study to help you to discover how to plan your own retirement. You will want to make sure that you listen in to the full series to understand how to plan your retirement. Do you have a net worth statement? On this episode, I discuss what a net worth statement is and why you need one. Make sure you listen so that you can find out how to prepare one for yourself. This tool is indispensable when tracking your financial resources. You definitely want to make sure that you have one of these prepared when you begin thinking about retirement. A net worth statement is a financial dashboard that lists all your assets and debts so that you can understand your worth and work towards planning a great retirement. Are you curious as to what a net worth statement is and how to build one? Listen in today to find out how to use this invaluable tool to help you plan your retirement. What is the next step of Your financial plan for retirement? On this episode, I continue my discussion with Lori and we move on to the next step of her and Bruce’s plan for retirement. Last week we discussed what their ideal retirement lifestyle would look like and in doing so we talked about Family, Occupation, and Recreation. This is the FOR part of my acronym FORM. Today is we get to the M part -- Money. Lori discloses her financial resources so that we can get a better feel for how well they are prepared for their impending retirement. How are you preparing your life for retirement? Find out how Lori and Bruce downsized their life in preparation for retirement. They used to have the large house and dual incomes and decided that they needed to start preparing for retirement by downsizing their house. Lori gives us the nitty-gritty about their financial resources so that we can discuss their financial plans for retirement. Lori also tells us how she got started as a virtual assistant and how this has been like a pre-tirement phase in her life.  If you've been thinking of having a transition period between full-time employment and retirement, you will want to listen to this episode as we discuss Lori and Bruce's preparations for full retirement. Have you thought about at what age you would like to retire? Will you wait until age 65, or retire a bit early? Do you need to wait a bit longer? These questions cannot be answered entirely until you have a full grasp of your financial resources. The first step in understanding your financial resources is to have a net worth statement. Make sure you listen in to this show to hear the case study of Lori and Bruce and to learn what a net worth statement is and how and why you need to prepare one. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [1:02] Money doesn’t come first HOT TOPIC SEGMENT [2:57] Nobody feels like they have enough money [3:57] FORM- Family, Occupation, Recreation, and lastly, Money [5:32]  What is a net worth statement [7:02] The difference between a use asset and a productive asset [8:56] Six shot saturday is where you can find the tools to help you build a net worth statement PRACTICAL PLANNING SEGMENT [9:39] Lori explains how they downsized their life to prepare for retirement [13:56] We discuss the possibility of full retirement at the age of 66 for both of them [19:15] We discuss their assets [21:52] Lori discusses how she got started as a virtual assistant THE HAPPY LAB SEGMENT [29:03] Find a way to reach out to someone that may need some help, however little TODAY’S SMART SPRINT SEGMENT [31:50] Create a net worth statement Resources Mentioned In This Episode Ask Roger a question Work with Roger 3-video Series: 5 Minute Retirement Makeover Roger’s Retirement Learning Center The Retirement Answer Man Facebook Page

On today’s show, I interview Lori and we begin to plan her ideal retirement. There is no one size fits all retirement plan out there. Everyone’s ideal retirement will look different since we all have different priorities and financial goals. Listen in on this show to find some excellent resources to plan your own retirement. You’d be surprised to hear where the challenges are in planning this important stage of your life. Planning is the first step in ensuring that you are not left in the dark for what may be a thirty to forty year period. Listen in for important tips today as I walk Lori through the first steps that I take with my clients as we begin the retirement planning process. What are the barriers to retirement? There are many out there who claim that retirement is dead. This doesn’t have to be true. It’s important to have a plan in place so that you can enjoy this time of your life without the worry that you’re overspending. Planning for retirement can be a daunting process. There are a few challenges that we face when retirement planning that you need to pay attention to. Listen in to today’s show to learn what the obstacles to planning a sound retirement are and how to address them. You don’t want to get stuck on the last barrier when planning your retirement! It’s OK to dream big when planning your retirement! When planning your retirement it’s important to think of your needs, your wants, and then your wishes. Dreaming and wishing for things to do in your retirement is OK! But first, you must plan what you need. What are your basics for everyday living? After you get that down then you can start thinking bigger. Listen in on today’s story to hear how we can plan your retirement step by step. You’ll learn what the acronym F.O.R. is for and how thinking about it can help you with your planning process. How will you spend your retirement? We met Lori on last week’s episode, and this week we delve into her needs and wants to try and learn how best to prepare her and Bruce for the next thirty years. One of the problems they had when planning their ideal retirement was thinking big. They have lived frugally for so long that dreaming big didn’t come naturally to them. How about you? Do you have trouble thinking of big ways to spend your retirement? Listen in today to find out how I helped Lori think big when planning her golden years. Are healthcare fears preventing you from retiring early? Have you thought about healthcare if you plan on retiring before the age of 65? Is this stopping you from retiring early? Retiring before 65 can happen, but healthcare is a big priority when planning your retirement. Find out the creative way that Lori and Gene have discovered to cover their health insurance needs by listening to today’s episode. If you are at all considering retiring before the age of 65 you will really want to listen to Lori’s solution to this important issue. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [1:22] The benefits of enrolling in 6 Shot Saturday HOT TOPIC SEGMENT [4:20] Barriers to retirement [11:38] How do we get over those barriers PRACTICAL PLANNING SEGMENT [18:14] Lori's ideal perspective of retirement [21:54] What Lori and Bruce's basics are [26:56] Insurance needs [31:52] Their wants and needs THE HAPPY LAB SEGMENT [39:46] Define and envision your future TODAY’S SMART SPRINT SEGMENT  [40:29] Define your needs, wants, and wishes for retirement in the worksheets from 6 Shot Saturday Resources Mentioned In This Episode Roger’s Kindle Book Rock Retirement Ask Roger a question Work with Roger 3-video Series: 5 Minute Retirement Makeover Roger’s Retirement Learning Center The Retirement Answer Man Facebook Page  

Planning for the future has many challenges and you may not know what could be a threat to your retirement. There’s something you may not have thought about when planning your retirement. Over the next four weeks, we’ll be learning about Lori and Bruce in my Retirement Plan Live case study. By studying them you will gain great insight into how to prepare for your own retirement. Listen today as I introduce Lori and we discuss marriage and how a healthy marriage can lead to a healthy retirement. Investing in your marriage is an investment in your retirement. You may not think about this as a threat to your retirement, but divorce, especially when you are close to retirement age, can have a huge impact on how you retire. You’d be surprised by how many people get divorced in their fifties and sixties. Why would this be a threat to your retirement? What are some great tips for a healthy marriage? Listen in on this episode of Retirement Answer Man to find out how a healthy marriage can help ensure a financially healthy retirement. Have you ever thought of investing in your marriage? What are the 3 phases of life in which people think about divorce? I’m no expert, but I have noticed that there are three seasons in life where couples begin to contemplate divorce. I have Ted Lowe, a Real marriage expert, and author of Your Best Us, here with me to see if we can come up with some everyday ideas that you can use to invest in your marriage. Many people have thought about divorce at times, even in a healthy marriage. However, they may not think about how divorce affects their finances and how that could affect their retirement. Listen in on my discussion with Ted Lowe as we talk about how to invest in a strong marriage.  Is fun an important part of marriage? What marriage tips and strategies can you learn from Ted Lowe? Ted gives us some wonderful advice on how to maintain a great relationship each day so that you don’t have those big blow-ups that can lead to divorce. Does your wife want to be heard or helped? This can be a challenging question, and knowing when she wants help is important. Do you think fun an important part of marriage? Listen to what Ted Lowe has to say about these questions and other fantastic tips on marriage on this episode of Retirement Answer Man. Words don’t lead to connections, connections lead to words. We all think about ourselves, that’s natural, but should we bring the “Me” mindset into marriage? Connection is a huge part of marriage and Ted gives us some great advice for learning how to connect with our spouse during the different seasons of marriage. Listen now to hear how you can make real connections with your spouse. A stronger marriage can lead to a stronger place in retirement. I gained so much insight in my chat with Ted Lowe, I can’t wait to implement his suggestions in my own marriage! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN {00:05] Investing in your marriage [00:30] Reasons for NOT getting a divorce in your 50’s and 60’s HOT TOPIC SEGMENT [3:15] All about Retirement Plan Live case study to learn how to help yourself [5:43] Let’s meet Lori [7:32] We discuss longevity and life quality [9:20] What Lori and Bruce will be excited about in retirement PRACTICAL PLANNING SEGMENT [13:32] Let’s discuss marriage and divorce [17:00] Meet my guest, Ted Lowe, author of Your Best Us [23:10] How can we diffuse difficult situations in marriage [27:30] How can we manage our marriage through the stages of life [32:30] Where will our connections lead us THE HAPPY LAB SEGMENT [40:51] What can we do to make each other happy TODAY’S SMART SPRINT SEGMENT [41:53] Sign up for Six Shot Saturday and start thinking about your retirement RESOURCES MENTIONED IN THIS EPISODE Ted Lowe Your Best Us: Marriage is Easier Than You Think by Ted Lowe The Slight Edge by Jeff Olson Ask a question Work with Roger 3-Video Series: 5 Minute Retirement Makeover Roger’s retirement learning center The Retirement Answer Man Facebook page

My grandmother lived through the great depression. She was 10 years old when it started and remembers the struggle. What she went through during those years has shaped her decision-making process. She is very frugal. I can remember her saving small bits of wrapping paper when I would have thrown them out. For many of us, we have been affected similarly by the Great Recession and make decisions based on that experience. Many of you might be asking the question, “Is another crash just around the corner?” Tune in to this episode of the Retirement Answer Man to find out.   Focus on what you can control, not on what you can’t.   The ever-present question looms in the back of our minds, “Will the markets crash again?” No one knows the answer to this question. Many financial forecasters are very vocal about their opinions warning about the impending crash. Some people are making extreme future decisions based on those forecasts. How smart is that? Should we rest our future on such forecasts? Maybe the best plan is to worry about what we can control, not stress about the things we can’t.   Insurance premiums are rising, what should I do?   As the market changes many people are falling victim to the ever-rising premiums of Long Term Care policies. On this weeks show a listener writes in with this very concern and wants to know what options they have. They could always drop the plan. But then they would have to self-insure. They could lower their coverage to keep their lower premium which might leave them without needed coverage. Or they could suck it up and pay the higher premiums. It’s a tough decision. Listen in to this episode to hear my thoughts.   My House is Leaking!   Nichole walked into her home the other day to find water soaking her closet. Her AC system had sprung a leak and soaked a hole through her ceiling. Her in-laws came to visit and help fix the damage. Family in the house can be uncomfortable at times but they can often line a huge helping hand. It’s often good to live near family to have a support network. If you live with or near family and often find it challenging, take time this week to look for the good in the situation.   Could the data breach cost me my house?   With this Equifax data breach, our imaginations can run wild with possibilities our information could be used maliciously. It’s possible someone could steal your identity and take out a loan on your home causing you to possible lose it. There is a service being advertised that monitors the title of your house for any fraudulent filings and notifies you. While this might seem like an easy hands-off way of staying proactive, it could be just as easy to check on your title yourself. Make sure to catch this episode to hear more.   OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:29] My grandmother lived through the Great Depression [1:37] Nowadays many of us have lived through the Great Recession and it has laid the foundation for our decision making. [2:00] Is another recession just around the corner?   HOT TOPIC SEGMENT [4:17] We are in the 2nd longest Bull market in S&P 500 history. [6:30] Are you asking the question, “Is another crash on the horizon?” [8:54] Making extreme decisions on forecasts is not the wisest move. [10:38] What do we do? [10:50] Focus on what you can control not on what you can’t. [14:00} What investment actions can we take?   PRACTICAL PLANNING SEGMENT [17:11] Listener questions with Nichole. [17:15] Our new voice coach. [20:11] I am self-employed. Should I set up a company 401k plan? [27:20] The premiums on my long-term care plan are going up. Should I continue to pay the premiums or should I lower my coverage? [33:18] Is Title Lock Insurance worth the investment?   THE HAPPY LAB SEGMENT [37:22] Nichole’s house is leaking! [37:30] It’s great to live around family and have them as a support network.   TODAY’S SMART SPRINT SEGMENT [39:16] Take the time this week to check your title and see in anything has been filed against it. [40:00] The subject for Retirement Answer Man Live has been chosen. Sign up for Six Shot Saturday to receive all the details.   RESOURCES MENTIONED IN THIS EPISODE   Ask a question   Work with Roger   3-Video Series: 5 Minute Retirement Makeover   Roger’s retirement learning center The Retirement Answer Man Facebook page

I’ve been married to my wife for 27 years. That’s a long time! I have noticed that there has been a rhythm within our relationship over the years where, as we have become more comfortable with each other, we begin to become disengaged. Not disengaged in a spiteful way but simply not as focused as a team. This happens in any relationship whether it be a parent and a child, the relationship between spouses, or even between you and your advisor. Listen to this episode of Retirement Answer Man to hear my tips for staying on track in your relationships and keeping your advisor on the same page. An advisor in Colorado Springs has allegedly stolen millions from clients. This financial advisor seemed like a great person. There was no past history of dishonesty or crime and no red flags seemed to pop up. It seems very easy to be fooled into a bad relationship like this one. Are there ways you can stay on top on the relationship and catch the red flags if they arise? There certainly are and I will outline 4 steps you can take in your relationship with your financial advisor to keep the relationship healthy. Pursuing purpose in retirement On this episode of Retirement Answer Man, I’ll interview a friend of mine, Jeff McManus, who is turning his passion into an income stream he can benefit from during retirement. Jeff is the director of Landscape services to the University of Mississippi. He has a wealth of horticultural knowledge and has found joy in applying it to his career. Now, as he is nearing retirement and thinking of the future he is applying that knowledge in unique ways to grow opportunities for himself in retirement. Listen to this episode to hear his story. Don’t wait for Retirement to pursue your joy, start now! My books are finally here!! I’ve been working on my book for about 4 years and I just got the call that it is ready. Since I contractually have to buy 2500 copies I decided to have them all sent to my house so I could see what that many books looked like. I didn’t rationalize it, I just dove in and ordered them. They arrived on 2 pallets and have taken over a room of my house. It's been so fun looking over them and signing them for friends and family and even for the delivery lady. Is there something you think will bring you joy? Are you waiting for the perfect moment? Are you waiting for retirement? Don’t! Jump in now and experience the joy, don’t wait until it is too late. Tune in to this episode to hear all about the book delivery. This time of year is a great time to get on the same page with your financial advisor. As we near the end of the 4th quarter a great opportunity to refocus is presented. Take the chance to have a quarterly meeting with your advisor and refocus on your goals and make sure you both are on the same page. Trust me, you don’t want to begin the new year without being unified on your savings and the direction of your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:33] It’s easy to become disengaged after many years of marriage. [1:00] Constant vigilance is needed to keep a good relationship of any kind. [1:40] The same goes for your relationship with your advisor. HOT TOPIC SEGMENT [3:25] An advisor in Colorado Springs has allegedly stolen missions from clients. [4:00] The longer a relationship continues the more likely you are to become disengaged and draw apart. [6:00] If you have quality meetings with your advisor you will have a better idea of what is happening with your money. [6:30] Keep it formal. [7:00] Have an agenda. [7:50] Have an agreed upon plan. [9:30] Make sure your goals are mutually agreed upon and addressed in order of importance. PRACTICAL PLANNING SEGMENT [12:05] One baby boomer is making a change and living his dream! [14:50] We all want some measure of control and freedom in our life. [17:00] Cultivate a culture of teamwork and collaboration and grow a mutual passion. [19:27] Setting up a passion and source of income you can devote yourself to during retirement. [23:19] A vision for retirement. [25:19] Get your foot in the door of your passion. THE HAPPY LAB SEGMENT [28:15] My book is finally here!! [29:11] Hear about the delivery ladies response in Six Shot Saturday [29:30] What can you do that may not be practical but will bring you joy. TODAY’S SMART SPRINT SEGMENT [29:54] It’s nearing the end of the 4th Quarter. Make sure you have a 4th Quarter meeting to stay on track. RESOURCES MENTIONED IN THIS EPISODE Ask a question Work with Roger 3-Video Series: 5 Minute Retirement Makeover Roger’s retirement learning center The Retirement Answer Man Facebook page Get Jeff’s book here on Amazon

Several years ago I participated in an Ironman Triathlon. I didn’t win, not even close. I finished in the 77th percentile. Turns out, the winner could have started 6 ¼ hours after me and still beat me. So was this experience a failure? It depends on how you look at it. I enjoyed the experience, I loved the cycling and felt refreshed by the countryside surroundings. So for me, this was definitely not a failure. Comparison is important to keep us on track with our goals but when we put all of our focus on our performance v.s. someone else's performance...we often become unhappy. Regardless of where you are in life or how much you have saved for retirement, comparison could be the death of joy. Listen to this week’s episode to hear my thoughts on how to stay on track without letting go of your joy.   A Fidelity study shows exactly how much you should have saved for Retirement   A recent Fidelity study lays out exactly how much you should currently have in savings for retirement based on your age. They say that by age 30 you should have 1x your annual income in savings, 3x at age 40 and 7x at age 55. For some of us on the journey to retirement that may feel like a daunting task. Many of us don’t start saving as early as we should, I know I didn’t. But are these numbers really where we need to be? Can we make it work with less? Join me this week on the retirement Answer Man show to hear my thoughts.   Are my assets safe in the hands of my advisor?   Recently a financial advisor absconded with over 1 million dollars of their client's money. The advisor had no history of fraud and seemed to be a good person. If anyone can snap and steal from us, how can we trust our advisor? In this episode, I’ll dive into a few things to look for in your advisor to help you decide whether or not they are trustworthy. I’ll also outline some red flags that signal something fraudulent might be happening with your money. If you want to make sure your advisor can be trusted with your money, listen to this episode of Retirement Answer Man.   How should I allocate my 401K contributions to provide future security?   A listener called in with a question. He is making contributions to his 401K and wants to know how he should allocate his assets. Of course, I can’t give him specific advice but I can give guidelines of how you should think of your contributions based on your retirement goals. Make sure you catch this episode to hear my advice.   Life is full of changes. Go along for the ride and have fun.   Fall has come to Texas. It’s not as unbearably hot and pumpkins are selling in all the stores. I love the change of seasons, the change of pace and the excitement. Life, like the earth, often has many seasonal changes as we get older and they can be exciting as or sometimes challenging. Whether or not you are ready for the next season of life remember that there is nothing you can do to stop it so you might as well go along for the ride and focus on being happy.   OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0.28]  Several years ago I participated in an Ironman Triathlon [3:29]  I finished behind many. But was it a failure? HOT TOPIC SEGMENT [6:38] Fidelity study shows what you should have saved for retirement. [7:50] Regardless of where you are, you compare yourself to others. [9:01] By age 50 you should have 6x your annual salary saved for retirement. [11:57] Many of us start saving late. [12:00] Many of us make bad savings and investing decisions. [13:50] Comparison can be the death of joy. PRACTICAL PLANNING SEGMENT [14:33] Listener questions with Nichole. [16:04] How safe is my money with a financial advisor? [20:00] How can I verify an advisor’s trustworthiness? [27:00] Be wary of private investment opportunities. [28:01] How should I allocate my 401k contributions? [32:08] I have 80% of my 401K in stock. How can I balance my investments? THE HAPPY LAB SEGMENT [37:57] Fall has come to Texas [38:39] The seasons are changing. Whether you like it or not, try to enjoy the ride. TODAY’S SMART SPRINT SEGMENT [39:22] Look at all of your investment assets and see, based on Fidelity’s study, where you are based on your age.   RESOURCES MENTIONED IN THIS EPISODE Ask a question Work with Roger 3-Video Series: 5 Minute Retirement Makeover Roger’s retirement learning center The Retirement Answer Man Facebook page

Indexes are comprised of many companies. Yet only the top few companies drive the index. What happens if we hit a rocky patch in the markets and those companies falter? On this episode of the Retirement Answer Man, I dive into the pros and Cons of investing passively v.s actively and what might happen if a Bear Market does indeed come. Bear Markets might be bad news for your Retirement. A Bear Market is a self-sustained drop of the market and if one of these shifts does happen, it might impact your ability to retire. Passive based investing becoming very popular nowadays, but if the majority of your strategy is comprised of these kinds of investments you might be in for trouble if a Bear Market shift happens before or during your retirement. A shift like this would affect the big companies in the major indexes, causing the index to drop. A drop like this could negatively affect your investments. You could always wait for things to stabilize but you may not have the luxury of waiting. In this episode of Retirement Answer Man, I’ll give you a rundown on what you can expect in a Bear Market and how you can act wisely to mitigate your risk. Passive based investing is sweeping the nation. What is passive based investing? Well, whatever it is it makes us more than %40 of the nation's investments. In this episode of Retirement Answer Man, I’ll dissect the differences between active and passive based investing and which one might be the best for you and your retirement. I also talk about how a market downturn affects them and what steps you can take to be safe. Should I use my raise to pay off debt or add to my investments? A raise can make your year! Not only does it say “good job” it gives you options to change aspects of your lifestyle, investment strategy or even the lives of someone you know. There are many things we could do with a raise.  You could spend it, invest it, pay down debt to free up future cash, or even give a gift to someone in need. In this episode of Retirement Answer Man, I’ll expound on the options a raise make possible and give you a framework for deciding what is the financial priority in your life. I’m looking to work with a retirement advisor, what red flags should I look for? On this week’s episode of Retirement Answer Man a listener writes in with a question about an advisor he is looking to work with. The advisor has worked for many firms and not stayed long at any one. Is this a red flag? Should he be worried? Tune in to this episode to hear my thoughts and get tips for asking your advisor the right questions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN   [0:26]  Would you like to place a wager against Warren Buffett? [2:00] Should we all switch to passive investments? HOT TOPIC SEGMENT [2:59] Passive based investing is taking over the investing world. [4:47] Does passive make the market more or less efficient? [5:33] Passive investing is driven by the “hot” sectors of the market. [6:50] Jim Rogers says Bear Market is coming! [8:50] We are down to the wire in Retirement, there is no more time to wait. PRACTICAL PLANNING SEGMENT [12:27] Should I allocate my raise into my investments? [14:50] What should I do with a raise? [17:50] How does unstable politics affect my investment strategy? [19:58] Ed’s question about advisor research. [24:40] Think of an advisor as an investment. How can you have the best returns? [28:50] Should I pay off debt or fund a 401K? RESOURCES MENTIONED IN THIS EPISODE Ask a question   Work with Roger   3-Video Series: 5 Minute Retirement Makeover   Roger’s retirement learning center   The Retirement Answer Man Facebook page

Have you ever had your identity stolen? I have. It’s not fun. It can leave you feeling helpless and frustrated as you try to prove who you are and undo the false financial claims against you. In this modern era data is everything. Your life is wrapped up in one 9 digit code, your Social Security Number. If someone were to get that number they could open credit cards in your name, access your life savings, and even take out a mortgage. While the dangers are high, there are effective ways to protect yourself and your assets. I will outline some of the most effective ones in this episode of the Retirement Answer Man. Equifax has been breached by hackers Equifax has been breached by hackers. Almost 60% of the American population’s cyber data is in the wind. For many of us, this is a fearful thing. We have spent our whole lives planning for our future. As we draw near to retirement we can see the light at the end of the tunnel as all our hard work starts to pay off. Identity theft could put a serious damper on those retirement plans and could take years to recover from. Luckily, you are not at the mercy of these hackers. There are steps you can take to ensure that your data stays safe. Listen to this episode of Retirement Answer Man to hear my simple steps to guard your identity. 5 simple steps to guard your identity With the daily increase of cyber threats facing our modern world, it is essential that you know what to do if your information is compromised. Over 100 Million Americans were affected by the Equifax breach. Odds are you are probably one of them. It’s never too early to take offensive steps to make sure your credit is monitored and you will be alerted to any suspicious activity. Is new technology all it’s cracked up to be? Apple has just announced the release of a few new devices, an Apple watch that can be used as a cell phone and the new I Phone X. The ads for these devices portray them as just what you need to fill the technology gap in your life. Having the new I Phone will make your life easier, safer, and on the cutting edge. Are these claims true? Think back to the last time you got a new device. It feels great and it’s exciting, but after a few days or a week, the excitement fades away. It becomes normal. Did it really bring you joy? We might be better off searching for joy in an area that doesn’t put a dent in our bank account. Don’t let your identity fend for itself. I’ve created a Free Credit Breach Protection Plan that you can find on my website. It gives simple instructions to help you take steps to protect yourself, your assets and your loved ones. Don’t wait until it’s too late, be proactive and protect what you have worked so hard for. Don’t miss this episode of the Retirement Answer Man. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:25] Have you ever had your identity stolen? [1:50] It can be difficult to regain your footing after an id breach. HOT TOPIC SEGMENT [3:47] Hackers infiltrated the Equifax database. [4:20] The information of 60% of the American population has been compromised [5:49] There's a way you can know if you have been affected by this breach. [6:00] What does this mean for me? PRACTICAL PLANNING SEGMENT [8:24] Protecting yourself without becoming a cybersecurity expert. [9:18] Credit Protection Action Plan [9:50] 5 Basic ways to protect your cyber data. [14:24] The best ways to respond to this data threat. THE HAPPY LAB SEGMENT [21:39] The new Iphone X [22:08] The “new” is overrated TODAY’S SMART SPRINT SEGMENT [23:45] Download the Free Credit Breach Action Plan